Technical analysis - A scam for beginners? - page 31
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Like this:
Rough, really. But it's Eurusd H4
Like this:
Rough, really. But it's Eurusd H4.
Great! Now, please, draw the future according to your methodology - take a chart in MT and look for your magic candles - and the trend on them
why H4 - what makes it better/different from other TFs?
Don't kick me too hard! I will try to explain everything in order. I have been working on it for about four months now.
the question immediately is why H4 - how is it better/worse than the other TFs?
Armenian radio asks:
- Which is better than Ford Focus or Toyota Yaris?
Armenian radio answers:
-Better is a Mercedes Brabus.
The essence of the TS is to determine the impulse movement. it works on all charts. up to M1, it's just that the spread gets in the way. I'm looking for a person who will write an Expert Advisor for it. I am looking for a person who will write an Expert Advisor using it.
I try and I try not to identify my actions during analysis of entry/exit, i.e. what is the name of the process I use is not important or principal to me at all... (at this point please do not be sarcastic)
if we follow the definition of TA:
Technical analysis is the study of the dynamics of markets (forex, stocks, futures and others), most often through charts, in order to predict the future direction of prices. Technical analysis involves investigating the price dynamics of the market by analysing the patterns of three market factors: price, volume. Prices are considered primary for analysis and changes in the other factors are studied to confirm the direction of prices.
Then it exists and works regardless of your opinion.
Here's the system.
the signal: it is a certain movement i.e. more than 2 candles in one direction (there may be more) followed by a pullback, a breakdown of the trend line (breakdown in my opinion can only be accomplished by an impulse as the correction does not have the strength to do so). If you stretch it from the maximum of the movement to the minimum of the correction by candle shadows. it is followed by a breakdown of the maximum level on M5 and we measure the target by the demark. i dont know exactly what to call it but it looks like this: from the maximum of the highest candle body to the maximum of the lowest candle body on M5 in our case. downwards on the opposite. we shift the level (let it be 200.0) on the chart and take it there.
Well, that's not all.
Well, that's not all.
Here's the system.
the signal: it is a certain movement i.e. more than 2 candles in one direction (there may be more) followed by a pullback, a breakdown of the trend line (breakdown in my opinion can only be accomplished by an impulse as the correction does not have the strength to do so). If we stretch it from the maximum of the movement to the minimum of the correction by candle shadows. it is followed by a breakdown of the maximum level on M5 and we measure the target by the demark. i don't know exactly what to call it but it looks like this: from the maximum of the highest candle body to the maximum of the lowest candle body on M5 in our case. on the downside, we shift the level (let it be 200.0) on the chart and take it there.
I can't tell if I understand your system or not, so I'm drawing a line:
Yes indeed - on the H4 is an established movement of 4 bars = 16 hours, according to your TS, you need to wait for a breakdown of the trend line - that is, to catch a pullback - the fact that pullbacks exist - I've already said
as for the takeaway targets - still a vague idea